SUV Sales in Vietnam Set to Grow at 4% CAGR

According to our research report, “Vietnam Automobile Forecast 2014”, Vietnam is among the nascent automotive manufacturing markets around the globe. Driven by upcoming government supportive policies, rise in consumer demand, the country’s sports utility vehicle sales has been witnessing consistent growth over the past few years. Moreover, with rise in demand from increasing population and tremendous growth in transportation investment, the sales of SUVs in Vietnam will expected to surge at a CAGR of over 4% during 2011-2014.

As per the research, SUVs are also chosen by some buyers as they have more interior space than sedans of similar sizes. The vehicles are very popular among tourist agencies as it can carry a number of people at a time. Besides, with the government efforts to develop its tourist destination at par with other locations, we expect that the demand for SUVs will increase in the years to come.

However, Vietnamese automobile industry has been facing fluctuating trend in the sales of passenger cars due to changes in consumer sentiments to taxes and policies. Our research indicates that at present, the government is revising its tax and incentive plans along with the infrastructural development, which can support the growth of economy with increase in vehicles demand. This projection is based on several concrete factors that have been thoroughly discussed in the report.

Our report, “Vietnam Automobile Forecast 2014”, covers various aspects of the Vietnamese automobile industry, giving detailed analysis of its various segments, including passenger vehicles, commercial vehicles, utility vehicles, two wheelers and auto components. The report also highlights current and future trends in each of these segments as well as developments in the Vietnamese automobile market. Besides this, we have comprehensively investigated the opportunities for green vehicles in Vietnam and based on that its future outlook has been presented. The report also covers competitive landscape, which further enable the clients to analyze the industry structure and growth prospects.

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